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3/2/2014 
GOVERNMENT UNABLE TO MEET ARREARS OWED TO PUBLIC SERVAN...  
The Grenada Government says it will not be able to pay as schedule the EC$12 million (One EC dollar = US$0.37 cents) in retroactive payment to public servants. A government statement said that while the process of preparation for payment is almost completed, the Keith Mitchell administration “is mobilising external funding which has not yet arrived”. The third instalment of the retroactive payment to public officers, teachers and prison officers was due to be made on Friday and the statement said that all unions and welfare associations have been informed of the situation. “The total cost of this instalment of retroactive payment is $12 million. This third instalment will bring the total retroactive payment to $30 million with Government having paid $18 million in 2013,” the statement said, adding that an update will be made on March 17 as to when payment would be made. “The Government of Grenada expresses its appreciation to the unions and their members for their cooperation and understanding on this matter,” the statement added. Earlier this month, the Grenada government said it was urging trade unions to accept a three-year wage freeze as it seeks to enter into an agreement with the International Monetary Fund (IMF) to deal with an ailing economy. The IMF had earlier said despite two consecutive financial arrangements with Grenada, totalling more than US$28 million, the island missed the key programme objectives of securing a sustainable fiscal position and a higher growth path. The IMF said that Grenada during the period 2006-11 had received US$15.2 million in assistance under its Poverty Reduction and Growth Facility (PRGF) arrangement and a successor US$13.3-million Extended Credit Facility (ECF) arrangement that was approved in April 2010. Late last year, Prime Minister Dr Keith Mitchell told nationals that while the international community was willing to restructure the island’s debt, the country would have to make sacrifices. Mitchell, whose New National Party (NNP) came to office in February last year, said Grenada was unable to pay its creditors and was seeking the assistance of the international community to restructure its debt. Since then there have been several activities aimed at finding a solution to restructuring the debt that is estimated at more than EC$2 billion. The government has appointed the London-based White Oak Advisory, which describes itself as an independent financial advisory firm providing specialist, high-level and impartial advice to governments and other clients on matters relating to sovereign finances and sovereign debt, to advise it. Source: ja observer
 

 


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GOVERNMENT UNABLE TO MEET ARREARS OWED TO PUBLIC SERVAN...  
i do not understand grenadian people they wanted a change and they got the change keith mitchell will always be keith mitchell it is what it is. you all vote him in so stop complaining and deal with his bull shit.
50By: lynn
3/7/2014 6:13:57 PM
As long as local politicians see the job as self-preservation not service, we will have problems in Grenada and elsewhere. The political class perpetuates itself at expense of commoners. They leave politics with more assets than they started with, and that does not include a generous pension. Ordinary gov't worker's gets no such generous benefits for doing similar work. But they lack connection, I suppose, to profit from sweet deals. Yes,it would have been a fitting independence if we used the forty years to build infrastructure in manufacturing, agro-processing, agriculture, finance, energy and technology; to become real independent. Instead, we have empty celebrations, while we suffer from financial insufficiency, and debtor nation status. What has the forty years wrought us? Imagine after 40 years, the bill to feed Grenada, the food bill is still taking up a big chunk of the annual budget.
150By: NutmegFarmer
3/3/2014 10:27:57 PM
Thanks, I agree with you 1000. That's why our Administration should involve nutmeg farmers
By: Joe
3/4/2014 11:45:06 AM
It's so sad that we just celebrated out 40TH Independence Anniversary and we can't pay our poor workers what's due to them. Sometimes I wonder if our politicians are really serious about Independence or if they are just concerned about big speeches even by the U.S Secretary of State, big parties etc. I saw photos of our Rt. Honourable PM Dr. Mitchell dancing away in the US enjoying Grenada's Independence; celebrating our tremendous achievements after 40 years, like all is well. I also saw him giving great inspiring speeches to his audience in the US. Let's hope he mentioned the economic mess that we are in and encouraged Grenadians to invest in Grenada. We can surely achieve great success if we put our dollars, cents and senses together to help build our little island. Maurice Bishop International Airport is a good example although I wonder what is happening to those bonds. Can my good friend Gabe or the pastor assist me with that one? thank God Grenadians are peaceful and discipline and hopefully will not make matters worse. I applaud the Public servants and Grenadians as a whole for their patience. I also read that a High-and-Mighty London based firm will advise or what? our lazy politicians on Grenada's debt? I wonder if this Colonial Master is working free? Gabe or Little boy can you please find out? But! please don't get into trouble with our new law that was slided by. We all know that when you borrow you have to pay. Or, you reap what you sow. If you produce nothing, you reap nothing. I know for sure that we have outstanding Civil servants, teachers, farmers, fishermen and women, students etc. who can surely advise our lazy ones in high offices. Why can't the Doctor try that? It may look like Parish Councils but that's OK because we are still friends with the Communist which is good. Our PM even received Red- Carpet-Treatment from them. That's very nice of the Communists. To our elected government, let's start moving in the right direction. Let's involve the little people, you will be surprise to see how much progress we can make. Grenadians are very smart and talented. Long Live Grenada. Forward Ever.
260By: Joe
3/3/2014 11:10:41 AM
IT is once sais that politicans and i will go as far as to say that some politicans are just dam liers and can be deceitful when ever they need your votes ,take for example this present government and cast your minds back to their pre election campaign and their SLOGAN and the things they said about the then Ndc government and the things they said they the Nnp would do, and what they would not do ,now today behold the devils is roaming the country telling the very voters what they the Nnp is unable to do and as the old saying goes -a promise is a comfort to a fool-yes our voters have been had by these deceivers calling themselves politicans. God help our country under these deceivers.
220By: gabe
3/3/2014 6:25:29 AM